Lombard’s loan book reaches €1 billion
Following last week's article detailing the performance of the S&P 500 index in 2025, it is worth devoting time to review the developments across the European equity markers in my last article of the year.
The MSE Equity Price Index advanced by 0.57% to 4,238.8 points, the highest level since March 2020, as the gains in BOV, Malita, AX Real Estate, MedservRegis, BMIT and Harvest outweighed the decline in IHI. Meanwhile, four other equities closed unchanged. Download today’s Equity Market Summary.
Today, Lombard Bank Malta plc published its interim financial statements for the six months ended 30 June 2026. Net interest income increased by 7.8% to €14.2 million and net fee and commission income rose by 31% to €3.7 million, which together with the consolidated revenue of MaltaPost, lifted its operating income by 9.0% to €41.5 million and operating profit by 10.5% to €11.6 million. However, the Group registered a share of loss from associates of €0.11 million against a share of profits of €2.4 million a year earlier, which had largely reflected a one-off gain on the disposal of assets by an associate. Consequently, the profit before tax declined by 11.1% to €11.5 million and the net profit attributable to shareholders eased to €6.6 million. During the first half of the year, customer loans and advances increased by 7.9% (or €73.6 million) to €1.00 billion while customer deposits increased by 2.9% (or €35.1 million) to €1.24 billion. Shareholders’ funds increased by 1.8% (or €4.03 million) to €227.7 million, which translates into a net asset value per share of €1.473
Similarly, RS2 plc also published its interim results today. Revenue rose by 37% to €24.1 million as Processing Solutions surged by 55% to €15.9 million and Issuing and Acquiring Solutions grew by 40% to €3.2 million, while Software (Licensing) Solutions was broadly unchanged at €5.0 million. RS2 attributed the growth in Processing Solutions primarily to one-time implementation revenue, with transactions processed rising by 17%. EBITDA amounted to €5.5 million against a negative €0.98 million a year earlier. RS2 recorded a pre-tax profit of €3.45 million compared to the loss of €2.55 million in the same period last year. After accounting for a tax charge of €2.17 million and losses attributable to non-controlling interests of €0.11 million, the net profit for the period attributable to shareholders amounted to €1.38 million compared to the loss of €2.56 million in the first half of 2025.
Today’s trading activity was dominated by Bank of Valletta plc which closed 1.4% higher at a multi-year high of €2.23, although most of the 331,417 shares that traded changed hands at yesterday’s closing price of €2.20. Today’s trading value in BOV amounted to €0.73 million, representing 91% of total trading value.
Malita Investments plc advanced by 1.6% to €0.38 across 117,215 shares. Tomorrow, Malita will be publishing its interim results for the six months ended 30 June 2026.
AX Real Estate plc closed the session 10.2% at €0.54, its highest close since January 2023, although the majority of the 10,400 shares that traded exchanged hands at €0.50 (+2%). Yesterday, AX Real Estate declared a net interim dividend of €0.018 per share, payable on Tuesday 15 September 2026 to all shareholders as at close of trading on Thursday 27 August 2026.
MedservRegis plc gained 3.0% to €0.68 on a single trade of 2,000 shares. The Board of Directors is scheduled to meet tomorrow to approve the half-yearly report.
BMIT Technologies plc added 3.1% to €0.268 on a single trade of 350 shares.
Harvest Technology plc climbed 8.0% to €1.08 on trivial volume. Today, Harvest announced that its Board of Directors is scheduled to meet tomorrow to approve the interim financial statements for the six months ended 30 June 2026.
In contrast, International Hotel Investments plc was the only negative performer as it eased by 0.9% to €0.575 across 1,373 shares.
Meanwhile, Malta International Airport plc closed unchanged at €6.60, although the bulk of the 2,950 shares that traded exchanged hands at €6.40 (-3.0%).
APS Bank plc traded flat at the €0.575 level and MaltaPost plc held the €0.48 level, both on muted activity.
GO plc held the €2.56 level on low volume. GO shareholders as at the close of trading on Monday 14 September 2026 will be entitled to a net interim dividend of €0.07 per share, payable on Tuesday 6 October 2026.
Yesterday, MIDI plc published its condensed consolidated interim financial statements for the six months ended 30 June 2026. Revenue surged more than nine-fold to €14.9 million from €1.55 million a year earlier, as the development and sale of property segment generated €13.4 million on the delivery of the first six apartments at the Q3 – Fortress Gardens block for €7.88 million and the sale of the T15 building for €5.50 million. MIDI reported a pre-tax profit of €4.2 million against a pre-tax loss of €0.77 million, and a net profit of €2.8 million compared to a net loss of €0.89 million. The Group’s net asset value per share at 30 June 2026 stood at €0.253.
The RF MGS Index advanced by 0.31% to 893.5 points as energy prices continued to drop. The Brent oil price moved lower for the third consecutive session after the latest measures of the US against Iran proved less aggressive than markets had expected and reports emerged of talks between Iran and Oman on a temporary joint maritime corridor in the Strait of Hormuz. Nonetheless, data published in the US today showed that the Personal Consumption Expenditures Index advanced by 3.7% on an annual basis, ahead expectations of 3.6%, impacted by higher price growth from services.
This report contains only public information and is not to be construed as investment advice or an offer to buy or sell securities. Information contained herein is based on data obtained from sources considered to be reliable, but no representations or guarantees are made with regard to the accuracy of the data. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Rizzo, Farrugia & Co. (Stockbrokers) Limited is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange.
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This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.
The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.
This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.